look news india
ELI, UAN Date Extended: EPFO has extended the last date for linking UAN with Employee Linked Incentive (ELI). Till now this date was 30th November, but now it has been extended to 15th December. Regarding this, a post was made by EPFO on social media X, in which information was given to EPFO members. Not only has this deadline been extended by the government, but the last date for linking Aadhaar with the bank account has also been extended.
EPFO wrote in a post- ‘Dear employer, the last date for UAN activation and Aadhaar seeding in bank account has been extended to December 15. Ensure this for all the employees who have joined in the current financial year, so that they can avail the benefits of the employment related incentive scheme.
Let us tell you that there were already speculations that EPF may increase this limit for new employees. This is because the details of the ELI scheme have not been announced yet by the government. This happened and EPFO has extended the last date by 15 days.
What is employment related incentive scheme?
Employment Linked Incentive Scheme (ELI) is a government scheme aimed at providing incentives to youth for employment. Under this scheme, the government provides financial benefits to companies and institutions for recruiting new employees. Its main objective is to reduce unemployment and increase employment opportunities for workers.
In this scheme the government gives some financial incentives to the employers on hiring new employees. This incentive can take many forms such as tax exemption, salary assistance or funding for training.
The benefit of this scheme is available to those who are looking for a job, especially those youth who are starting work for the first time. Through this, companies also get incentive to recruit new and qualified employees. The objective of this scheme is to promote economic growth and enable the working youth force, so that they can contribute to the development process of the country.